Yikes, cutting price target almost in half. When do you see that happen. They deserve this given how they conducted the call. I have some soul searching to do on this. I sold about 15% of my stake back in Q3 2019 and wish I had sold more.
Uncertainty around the strategy that a new permanent CEO will bring. -BOD aware this move would bring uncertainty. Had to be a valid reason. No cause termination clears any ill actions that AP may have done.
FDA refuse to file letter of Cortrophin Gel. -Last public announcement addressed this. Will be resolved.
Uncertainty that COVID-19 has placed on all company base businesses. -Master of the obvious. LOL, sorry CF.
My Opinion... Correct call to be cautious. However, stellar earnings. Fundamentally strong. New CEO will come and maybe a household name from major Pharma. Also may get some M&A activity.
I agree with the market perform until we get clarity. I don't agree w/ the $40.00 price. To me its a target and not an evaluation.
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